Hon Hai Precision Industry, known internationally as Foxconn, reported revenue of 2.1 trillion New Taiwan dollars ($63.9 billion) in the fourth quarter of 2024, an increase of 15% compared to the same period last year. The company's strong sales performance was primarily attributed to growth in cloud and networking products, which includes AI servers similar to those designed by chipmaker Nvidia. Shares of several semiconductor companies across Asia, Europe, and the U.S.
rose on Monday, with the world's largest chipmaker TSMC reaching a record high. Foxconn stated that its computing products and smart consumer electronics, which include iPhones and other smartphones, experienced 'slight declines.' In Asia, TSMC hit a record high on Monday, closing 1.9% higher in Taiwan. Other Asian chip firms also saw gains in their share prices – South Korea's SK Hynix and Samsung rose nearly 10% and 4%, respectively. In Europe, ASML, a globally critical semiconductor equipment firm, saw its shares jump almost 6%, while fellow Dutch chip company ASMI's stock rose almost 5%. Germany's Infineon surged more than 6%. In the U.S., Nvidia benefited from Foxconn's positive results, climbing 2% in premarket trading. Microsoft is among several tech giants investing heavily in GPUs (graphics processing units) from Nvidia to train and run advanced AI models. AMD, Nvidia's closest competitor, rose 3% in premarket trading Monday, while fellow U.S. chip companies Qualcomm and Broadcom both climbed almost 2%
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